Ok...recently married within the last month. DH and I are both working on our rebuild. My Chp 7 was discharged about 3 weeks ago. (I burned everybody cool including Chase, BoA, Discover, and USAA) He didn't file BK but he has two repos, a judgment (from one of the repos), and roughly 5 charged off credit cards. He also has a dismissed Chp 13 from about a year ago.
DH scores are 501 EQ, 513 TU, 549 EX. My scores are 558 EQ, 496 TU, 586 EX. These are all from MyFico.com.
Since my discharge, I verified that all of my report is correct except for my auto loan with DCU. It continues to report with a balance and now it shows 2 months behind. I have already sent in disputes to all 3 bureaus for this and I"m waiting for the response.
I now have Credit One with $400 limit, Secured NFCU with $500 limit, and Secured NFCU $500 installment loan (10 month term). My scores all dropped about 16 points when the loan first started reporting. Credit One and NFCU secured card are NOT reporting yet.
DH now has Credit One with $300 limit and Capital One Plat with $300 limit. (Neither account is reporting yet). Our next card for him is going to be the Secured NFCU so we can do the installment loan as well.
I think that at this point we should be go to and and based on the BK to 700 thread, garden what we have for about a year with no more than 8% uti on one card per person.
All of his credit items are accurate but they are all at least 5 years old. I'm trying to decide if I want to start a pay for delete campaign on them or just let them sit and age off gracefully.
Any feedback would be appreciated.
As long as you will both be responsible, you can add each other as AUs on each card so that you can get the benefit of more postive payment history. You have plenty of cards and an installment loan so just garden and PIF every month, never letting the cards report more than 9% utilization and your scores will grow over time. It takes patience but they will start improving before you know it and as long as you stay on track you will be fine. Never use the CC to pay for things if you don't have cash to pay off the card.